Tag: Trade Ideas

Here’s an update of our profitable trade today on GbpUsd. We saw a potential opportunity on this pair as it was trading closely on the 30 mins resistance. We are not only posting to show our profits but to remind all traders that trading needs discipline and only with proper trading plan will you be able to grow the account consistently.

We know that SL(Stop Loss) and TP (Take Profit) is there to help us in our discipline but one thing many traders miss out is Max Entry. Max Entry is crucial so that traders do not enter into a trade blindly chasing the running trade. This also helps to ensure that your trades reward is worth the risk.

In this group, we will be answering questions, doubts and also strategies that losing traders have been wondering. We share our views, trade ideas (with specific entry, SL, and targets) and thoughts and hope to make everyone as profitable as us. Remember trading is a journey not a get rich quick scheme. Join us here https://www.facebook.com/groups/tradesandprofits/ to see what you are missing out there.

We ain’t perfect. See how we take so many losses yet profitable for the month. If you also notice we have a handful of trades. Why? Because we want to be profitable not because we want to enter many trades to satisfy our urge.

Okay not the best of story teller but we’ll try to put this to make it sound sensible.

We have been through many ups and down in our years of trading and find that having this two character helps a trader in a long way. We have seen many who failed, many who lost and many who are defeated, and this are all cost by the negative influence surrounding them.

What makes the successful and profitable ahead of them are two simple characteristic.

1) Sense of appreciation

2) Continuous effort

No doubt, being a human we always want more. More in wealth, power, control and many others. But to reach the top we have to learn the two characteristic above.

How does appreciation help us in trading? When we are trading, we have a set of expectation for every trade that we enter, but unfortunately the market is not that friendly to always help us meet our expectation always. We have to learn to accept and move on, look at bigger picture and appreciate the better things we have(may not be trading related). No matter how good your method is, if you don’t learn to appreciate, you will fail because you will think that the method you are having is never good enough.

Spare 1 minute and watch this video as it may help your understand better. Credits to Tony Robbin & MSN

Next is effort, effort is somethings that never fails to pay off. The more effort you up, the more you will grow. Effort can be simply analysing the market or learning some new strategy or indicators. You never know that this small exercise will help you make a better decision in your trading. Example, if we don’t put effort to monitor the market at least few minutes a day, we may struggle to understand how the market is reacting, example increase in volatility. When market is very volatile, setting tight stop loss on your trade may not suitable compared to usual. Lastly with Effort, you don’t have to depend and that’s when we step aside from the rest.